Geoffrey Kendrick: Bitcoin bottom may be approaching, now in buying range

According to The Block, Geoffrey Kendrick, head of digital asset research at Standard Chartered Bank, stated that after the recent sharp decline in Bitcoin, "the bottom has almost appeared" and the current "buying range" is around $63000. He mentioned that the holdings of US spot Bitcoin ETFs have remained relatively stable since February, with no concentrated redemptions and more stable funds. Kendrick predicts that after Strategy sells 32 BTC, it may conduct a 10x to 100x scale repurchase as per historical practice, which could become a temporary low signal. He reminded that there is still a risk of Bitcoin falling below $60000, but suggested buying in batches rather than attempting to accurately bottom out.